Elon Musk's Net Worth is shrinking every day!

by Christian Rook

7.3.25

A significant shake-up in the fortunes of the world’s wealthiest individuals

The latest Bloomberg Billionaire Index reveals a significant shake-up in the fortunes of the world’s wealthiest individuals, with Elon Musk once again experiencing a massive decline in net worth. The Tesla CEO and Twitter/X owner saw his fortune shrink by another $10.9 billion in just one day, bringing his total net worth down to $330 billion. This continues a downward trajectory that has seen him lose $102 billion year-to-date, making him the biggest loser among the top billionaires in 2024.

Tesla’s Declining Share Price: A Direct Blow to Musk’s Wealth

Musk’s wealth is inextricably tied to the value of Tesla’s stock, as he owns 415 million shares of the electric vehicle manufacturer. With every $1 drop in Tesla’s share price, his net worth declines by a staggering $415 million.

The latest slump in Tesla’s stock has hit Musk hard, wiping out billions in a matter of hours. This decline can be attributed to multiple factors, including waning consumer interest, intensifying competition from Chinese EV makers, and investor concerns over Musk’s focus being divided among his numerous ventures.

From Trump’s Victory Surge to a DOGE-Induced Collapse

Just a few months ago, Musk was riding a different wave. On November 4, 2024, following Donald Trump’s election win, Musk’s net worth skyrocketed due to Tesla’s stock surge. The increase in his fortune was so dramatic that it exceeded the entire net worth of the world’s second-richest billionaire, Jeff Bezos ($222 billion). This massive gain was fueled by optimism among investors that Trump’s presidency would result in deregulation favoring Tesla and SpaceX.

However, much of that gain is now fast evaporating, largely due to Musk’s DOGE-related actions. His actions and statements have alienated many Tesla customers worldwide.

Reports indicate that people are actively boycotting Tesla cars, or even vandalizing them, a movement gaining momentum as a reaction to Musk’s actions. The declining Tesla sales have directly contributed to the company’s share price drop, further shrinking Musk’s wealth at an alarming rate.

Bill Gates: The Lone Gainer Among Tech Titans

While most of the world’s top technology billionaires are seeing their fortunes decline, one notable exception stands out: Bill Gates. The Microsoft co-founder gained $625 million in the last day and has amassed a $6.15 billion increase year-to-date, making him the only major tech billionaire on an upward trajectory. Gates' wealth remains resilient, likely due to the diversified nature of his holdings, including strong-performing investments in healthcare, energy, and AI-related ventures.

The Broader Billionaire Picture

Other tech moguls (9 out of 10 of the Top10 are US tech oligarchs) such as Jeff Bezos (-$16.7B YTD), Mark Zuckerberg (+$14.4B YTD), and Larry Ellison (-$19.3B YTD) continue to experience fluctuations in their fortunes, with Zuckerberg being one of the rare tech figures to see an overall increase this year.

Meanwhile, Bernard Arnault, the wealthiest non-American (French, retail) on the list, has managed a $12.1 billion gain, reflecting continued demand for luxury goods despite economic uncertainty.

Final Thoughts

Elon Musk remains the world’s richest person, but his lead is shrinking fast. With people selling their cars and Tesla stock and not purchasing its vehicle, Tesla’s stock struggles, are eating away at his fortune at an unprecedented rate. What was once an unassailable financial position post-Trump’s victory has quickly turned into a wealth rollercoaster, with Musk’s net worth in freefall. As customers and investors react to his controversial decisions, the question remains: how much more can he afford to lose?